Hemenway Trust Co LLC Lowers Stock Holdings in Trane Technologies plc (NYSE:TT)

Hemenway Trust Co LLC lessened its holdings in Trane Technologies plc (NYSE:TT) by 14.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 600 shares of the company’s stock after selling 100 shares during the quarter. Hemenway Trust Co LLC’s holdings in Trane Technologies were worth $222,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Edgestream Partners L.P. bought a new stake in Trane Technologies during the 3rd quarter valued at approximately $519,000. Hilltop Holdings Inc. raised its position in shares of Trane Technologies by 106.3% during the third quarter. Hilltop Holdings Inc. now owns 1,347 shares of the company’s stock valued at $524,000 after buying an additional 694 shares during the last quarter. IHT Wealth Management LLC lifted its holdings in shares of Trane Technologies by 55.3% in the third quarter. IHT Wealth Management LLC now owns 1,249 shares of the company’s stock worth $485,000 after buying an additional 445 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Trane Technologies by 40.6% during the third quarter. Quantinno Capital Management LP now owns 10,991 shares of the company’s stock worth $4,273,000 after acquiring an additional 3,174 shares during the last quarter. Finally, State Street Corp grew its stake in Trane Technologies by 0.8% during the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock valued at $3,797,565,000 after acquiring an additional 77,830 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on TT. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Royal Bank of Canada boosted their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Wells Fargo & Company cut their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Citigroup decreased their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $413.69.

Trane Technologies Stock Down 3.9 %

Shares of TT opened at $318.18 on Friday. The firm has a fifty day moving average price of $351.63 and a 200-day moving average price of $378.92. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $71.36 billion, a P/E ratio of 28.28, a P/E/G ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 12-month low of $286.32 and a 12-month high of $422.00.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 1.18%. Trane Technologies’s payout ratio is currently 33.42%.

Insiders Place Their Bets

In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the sale, the senior vice president now owns 20,513 shares in the company, valued at $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the transaction, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.